Brokerages Set Veralto Co. (NYSE:VLTO) Price Target at $108.27

Veralto Co. (NYSE:VLTO) has been assigned an average rating of “Hold” from the twelve analysts that are covering the stock, MarketBeat reports. Seven research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $108.27.

A number of analysts recently commented on the company. Deutsche Bank Aktiengesellschaft boosted their target price on Veralto from $100.00 to $109.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Robert W. Baird boosted their target price on Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. The Goldman Sachs Group boosted their target price on Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a research report on Monday, July 29th. TD Cowen boosted their target price on Veralto from $95.00 to $100.00 and gave the company a “hold” rating in a research report on Tuesday, July 30th. Finally, BMO Capital Markets boosted their price objective on Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a report on Monday, September 30th.

Veralto Stock Performance

VLTO stock opened at $102.68 on Thursday. The stock has a 50-day moving average price of $108.57 and a 200-day moving average price of $104.06. Veralto has a 1-year low of $70.06 and a 1-year high of $115.00. The company has a current ratio of 2.13, a quick ratio of 1.87 and a debt-to-equity ratio of 1.35. The firm has a market cap of $25.39 billion and a PE ratio of 31.69.

Veralto (NYSE:VLTO) last issued its earnings results on Wednesday, October 23rd. The company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.04. Veralto had a return on equity of 52.85% and a net margin of 15.69%. The business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same period in the previous year, the company posted $0.75 EPS. The firm’s revenue was up 4.7% compared to the same quarter last year. As a group, equities research analysts expect that Veralto will post 3.48 earnings per share for the current year.

Veralto Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, September 27th were paid a $0.09 dividend. The ex-dividend date was Friday, September 27th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.35%. Veralto’s payout ratio is presently 11.11%.

Insider Transactions at Veralto

In other news, CEO Jennifer Honeycutt sold 13,191 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $111.98, for a total value of $1,477,128.18. Following the transaction, the chief executive officer now owns 138,546 shares in the company, valued at $15,514,381.08. The trade was a 8.69 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Surekha Trivedi sold 752 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $102.91, for a total value of $77,388.32. Following the completion of the transaction, the senior vice president now owns 10,413 shares in the company, valued at approximately $1,071,601.83. The trade was a 6.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 36,038 shares of company stock worth $3,989,693 in the last 90 days. Insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Veralto

Several institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC lifted its stake in Veralto by 10.5% in the third quarter. Geode Capital Management LLC now owns 5,868,620 shares of the company’s stock valued at $654,232,000 after purchasing an additional 558,393 shares during the last quarter. Duff & Phelps Investment Management Co. lifted its stake in Veralto by 28.8% in the third quarter. Duff & Phelps Investment Management Co. now owns 265,019 shares of the company’s stock valued at $29,645,000 after purchasing an additional 59,200 shares during the last quarter. Barclays PLC lifted its stake in Veralto by 43.8% in the third quarter. Barclays PLC now owns 729,081 shares of the company’s stock valued at $81,556,000 after purchasing an additional 222,076 shares during the last quarter. LRI Investments LLC lifted its stake in Veralto by 308.2% in the third quarter. LRI Investments LLC now owns 1,592 shares of the company’s stock valued at $164,000 after purchasing an additional 1,202 shares during the last quarter. Finally, Groupama Asset Managment lifted its stake in Veralto by 0.9% in the third quarter. Groupama Asset Managment now owns 13,974 shares of the company’s stock valued at $1,563,000 after purchasing an additional 118 shares during the last quarter. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Veralto Company Profile

Veralto Corporation provides water analytics, water treatment, marking and coding, and packaging and color services worldwide. It operates through two segments, Water Quality (WQ) and Product Quality & Innovation (PQI). The WQ segment offers precision instrumentation and water treatment technologies to measure, analyze, and treat water in residential, commercial, municipal, industrial, research, and natural resource applications through the Hach, Trojan Technologies, and ChemTreat brands.